Bitcoin has reached a new record high, trading above $125,000 for the first time.
The world’s biggest cryptocurrency touched $125,689 during weekend trading and is currently around $123,862. Its last record was set in mid-August at about $124,480.
Experts say the rise is mainly due to growing demand from big investors and support from the U.S. government, which is now showing a more positive approach to digital assets. Recent inflows into Bitcoin exchange-traded funds (ETFs) have also pushed prices higher.
At the same time, the U.S. dollar has weakened because of fears about a possible government shutdown. This made Bitcoin even more attractive to investors who see it as a safe option during uncertain times.
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